elf Beauty Inc
For the period ended Mar 31, 2024. Filed May 23, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed May 23, 2024
ELF$118.51-0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated statements of cash flows
(in thousands)
| Fiscal year ended March 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net income | $127,663 | $61,530 | $21,770 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 35,913 | 22,164 | 27,083 |
| Restructuring expense | — | — | 50 |
| Stock based compensation expense | 40,625 | 29,117 | 19,646 |
| Amortization of debt issuance costs and discount on debt | 430 | 346 | 394 |
| Deferred income taxes | (3,276) | (6,401) | (3,701) |
| Impairment of equity investment | 2,875 | — | — |
| Acquisition-related seller expenses | (10,549) | — | — |
| Loss on extinguishment of debt | — | 176 | 460 |
| Other, net | 1,227 | 179 | 496 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (49,598) | (22,432) | (5,597) |
| Inventory | (93,930) | 3,174 | (27,655) |
| Prepaid expenses and other assets | (55,182) | (24,553) | (10,555) |
| Accounts payable and accrued expenses | 81,215 | 42,995 | 1,498 |
| Other liabilities | (6,259) | (4,412) | (4,376) |
| Net cash provided by operating activities | 71,154 | 101,883 | 19,513 |
| Cash flows from investing activities: | |||
| Acquisition, net of cash acquired | (274,973) | — | — |
| Purchase of property and equipment | (8,659) | (1,723) | (4,818) |
| Investment contributions | (1,028) | — | — |
| Net cash used in investing activities | (284,660) | (1,723) | (4,818) |
| Cash flows from financing activities: | |||
| Proceeds from revolving line of credit | 89,500 | — | 26,480 |
| Repayment of revolving line of credit | — | — | (26,480) |
| Proceeds from long-term debt | 115,000 | — | 25,581 |
| Repayment of long-term debt | (7,875) | (30,000) | (54,525) |
| Debt issuance costs paid | (665) | — | (1,064) |
| Cash received from issuance of common stock | 5,561 | 8,053 | 1,677 |
| Other, net | (576) | (788) | (779) |
| Net cash provided by (used in) financing activities | 200,945 | (22,735) | (29,110) |
| Effect of exchange rate changes on cash and cash equivalents | (34) | — | — |
| Net (decrease) increase in cash and cash equivalents | (12,595) | 77,425 | (14,415) |
| Cash and cash equivalents - beginning of period | 120,778 | 43,353 | 57,768 |
| Cash and cash equivalents - end of period | $108,183 | $120,778 | $43,353 |
| Fiscal year ended March 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for interest | $11,265 | $3,546 | $1,762 |
| Cash paid for income taxes, net of refunds | 12,396 | 13,369 | 7,573 |
| Cash paid for interest on finance leases | 6 | 32 | 63 |
| Supplemental disclosure of noncash investing and financing activities: | |||
| Issuance of common stock as consideration for acquisition | $57,772 | $— | $— |
| Property and equipment purchases included in accounts payable and accrued expenses | 1,632 | 335 | 390 |
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